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* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CHRS
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Stronger technical forecast for Coherus BioSciences stock price after Friday trading.
(Updated on May 03, 2024)

Buy candidate since May 03, 2024 PDF

The Coherus BioSciences stock price gained 4.61% on the last trading day (Friday, 3rd May 2024), rising from $2.17 to $2.27. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.02% from a day low at $2.19 to a day high of $2.32. The price has risen in 6 of the last 10 days and is up by 9.66% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 528 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $3.45 million.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.57% during the next 3 months and, with a 90% probability hold a price between $1.61 and $2.12 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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CHRS Signals & Forecast

The Coherus BioSciences stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.07 and $2.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 17.62%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Coherus BioSciences stock

Coherus BioSciences finds support from accumulated volume at $2.22 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.132 between high and low, or 6.02%. For the last week, the stock has had daily average volatility of 6.80%.

Our recommended stop-loss: $2.18 (-3.94%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (CHRS) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Coherus BioSciences to open at $2.26, and during the day (based on 14 day Average True Range), to move between $2.12 and $2.42, which gives a possible trading interval of +/-$0.154 (+/-6.76%) up or down from last closing price. If Coherus BioSciences takes out the full calculated possible swing range there will be an estimated 13.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.32 (2.20%) than the support at $2.22 (2.20%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Earnings coming up

Coherus BioSciences will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0500. We will update the financials statements for Coherus BioSciences, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.69% in the first trading day after earnings release.

Is Coherus BioSciences stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.244 Buy Candidate Upgraded

Predicted Opening Price for Coherus BioSciences of Monday, May 6, 2024

Fair opening price May 6, 2024 Current price
$2.26 ( 0.413%) $2.27

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for CHRS

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 2.39 5.40 %
R2 2.34 3.18 %
R1 2.31 1.81 %
Current price: 2.27
Support S1 2.21 -2.63 %
S2 2.18 -4.00 %
S3 2.13 -6.22 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 2.62 15.42 %
R2 2.39 5.29 %
R1 2.32 2.20 %
Current price 2.27
Support S1 2.22 -2.20%
S2 2.21 -2.64%
S3 2.17 -4.41%

FAQ

What is the symbol for Coherus BioSciences Stock and on which exchange is it traded?
The symbol for Coherus BioSciences is CHRS and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Coherus BioSciences Stock?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

How to buy Coherus BioSciences Stock?
Coherus BioSciences Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Coherus BioSciences Stock.

What's the current price of Coherus BioSciences Stock?
As of the end of day on the May 03, 2024, the price of an Coherus BioSciences (CHRS) share was $2.27.

What is the 52-week high and low for Coherus BioSciences Stock?
The 52-week high for Coherus BioSciences Stock is $8.22 and the 52-week low is $1.44.

What is the market capitalization of Coherus BioSciences Stock?
As of the May 03, 2024, the market capitalization of Coherus BioSciences is 257.64M.

When is the next earnings date for Coherus BioSciences?
The upcoming earnings date for Coherus BioSciences is May 09, 2024.
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About Coherus BioSciences

Coherus BioSciences Coherus BioSciences, Inc., a biopharmaceutical company, focuses on the biosimilar and immuno-oncology market primarily in the United States. The company markets UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte stimulating colony factor in the United States. Its pipeline products include biosimilars of Humira, Avastin, and Lucentis. The company also develops Toripalimab, a novel anti-PD-1 antibody for second-line treatment of melanoma ... CHRS Profile

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